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American businessman (born 1962) From Wikipedia, the free encyclopedia
John T. Stankey (born 1962) is an American businessman who is the CEO of AT&T.[1][2] He previously was AT&T's president and COO and before that CEO of WarnerMedia.[3][2][4] Stankey led AT&T's acquisition of DirecTV and Time Warner in 2015 and 2018, respectively.[5][6] He assumed the CEO role of AT&T in July 2020, succeeding Randall L. Stephenson.
The article's lead section may need to be rewritten. The reason given is: the current lead does not summarize the full scope of the article, including the several sentences and citations noting controversies regarding business decisions. (November 2022) |
John Stankey | |
---|---|
Born | 1962 (age 61–62) |
Education | |
Occupation | CEO of AT&T |
Known for | AT&T's acquisitions of DirecTV and Time Warner |
Stankey was raised in Los Angeles, the youngest of three children.[7] His father was an insurance underwriter and his mother a housewife.[7]
Stankey received a Bachelor of Business Administration with a major in finance from Loyola Marymount University in Los Angeles in 1985.[8][9] He received a Master of Business Administration from the University of California, Los Angeles in 1991.[7][5]
In 1985, Stankey took an entry-level position with Pacific Bell.[2][7][10] which was acquired by SBC Communications in 1996.[11] Stankey went on to serve as the Executive Vice President of Industry Markets beginning in 1998 became the Executive President of Industry Markets in 2000.[10] In 2001 Stankey became the President and CEO of SBC Southwest.[10] Stankey served as CIO of the "new AT&T" after the merger of SBC with AT&T Corporation finalized in 2005,[12] becoming the senior executive vice president and CTO for AT&T from 2008 to 2012, Stankey held various senior executive positions within the company and in January 2012, Stankey became the CSO and group president of AT&T.[10]
Stankey took a seat on the board of directors for UPS in 2014 (a position he would hold until 2020).[13]
In 2018, Stankey was named CEO of WarnerMedia[14] which owns various media and film corporations, including Warner Bros., HBO, Turner Broadcasting System, and CNN.[15] On October 1, 2019, Stankey became the COO of AT&T while continuing to serve as the CEO of WarnerMedia.[16]
On April 1, 2020, AT&T announced that Stankey would be stepping down as CEO of WarnerMedia. Former Hulu CEO Jason Kilar assumed the role effective May 1, 2020, reporting to Stankey.[17] On July 1, 2020, Stankey replaced Randall L. Stephenson as CEO of AT&T Inc.[18][19]
In February 2021, Stankey oversaw the sale of a third of AT&T's stake in DirecTV to TPG Capital for $16.25 billion.[20] AT&T had paid 48 billion ($67 billion including debt) to purchase DirecTV in 2015.[21] Stankey also oversaw WarnerMedia's sale to Discovery Inc. in May 2021, for $43 billion in cash, plus an estimated $59 billion in Discovery, Inc. stock.[22] AT&T had paid $85 billion for WarnerMedia in 2018.[23]
On April 30, 2021, AT&T announced that a nonbinding shareholder vote had rejected AT&T's executive compensation proposal by a slight majority.[24] This came after reports that AT&T had "lost [US]$5.4 billion and cut thousands of jobs".[25]
This section needs expansion with: a more complete account of his varying levels of compensation for the same time period that his leadership activities are described. You can help by adding to it. (November 2022) |
Stankey received $22.5 million in compensation during the 2019 fiscal year, and $21 million during the following year.[25]
In 2023, Stankey's total compensation from AT&T was $25.7 million, representing a CEO-to-median worker pay ratio of 193-to-1.[26]
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